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14-21 ( Objectives 14-3 , 14-4 , 14-5 , 14-6 ) The followers questions deal with internal fakes in the gross gross revenue and collecting cycle. Choose the best response. a. When a client fails to include a remittance advice with a payment, it is common for the person orifice the institutionalise to prep atomic number 18 one. Consequently, position should be opened by which of the adjacent four smart set employees? (4) Receptionist b. A key internal conceal in the sales and collection cycle is the separation of duties between cash treatment and record keeping. The accusing most straight associated with this control is to regorge that (4) existing cash receipts ar recorded. c. Company aim account for the sequence of shipping documents and verify that an entry for to each one shipment is included in the sales journal. This control relates most directly to the sales transaction-related audit objective of (1) occurrence. 14-22 ( Objectiv es 14-3, 14-4 ) For each of the following types of misstatements (parts a through d), select the control that should have prevented the misstatement: a. A manufacturing company received a inviolable sales harvest-feast in the last month of the year, that the credit memorandum for the buy the farm was not prepared until later on the auditors had completed their testing.

The returned mathematical product was included in the physical inventory. (4) Receiving reports are prepared for both materials received and such reports are accounted for on a unfaltering basis. b. Which of the following controls most likely pull up stak es be effective in offsetting the tendency o! f sales force-out to maximize sales volume at the expense of blue bad debt write-offs? (3) Employees involved in the credit-granting function are disjunct from the sales function. c. A sales invoice for $5,200 was computed correctly but, by mistake, was key-entered as $2,500 to the sales journal and to the accounts receivable master file. The guest remitted only $2,500, the amount on his monthly statement. (1) Prelistings and...If you want to go down out a full essay, order it on our website: BestEssayCheap.com

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